Delphi Proposes $2B Stock Offering

Law360, New York (March 8, 2007, 12:00 AM EST) -- Delphi Corp. has filed a registration statement with the U.S. Securities and Exchange Commission which would raise nearly $2 billion from current stockholders to help fund the bankrupt auto parts maker’s reorganization plan.

The filing details an offer of 56,700,000 shares of common stock at $35 per share as part of a $3.4 billion bailout plan reached between Delphi and its investors in January. Any shares remaining after the offering will be bought by the investors.